WELL Health Announces Receipt of MCTO

Rhea-AI Summary

WELL Health Technologies (TSX: WELL, OTCQX: WHTCF) has received a Management Cease Trade Order (MCTO) from the British Columbia Securities Commission following a delay in filing its Annual Filings for the year ended December 31, 2024. The MCTO restricts the CEO and CFO from trading company securities until the required documents are filed.

The Annual Filings include the company's annual information form, audited annual financial statements, and management's discussion and analysis. During this period, the company has committed not to issue or acquire securities from insiders or employees. The MCTO does not affect non-insider shareholders' ability to trade.

The company will provide bi-weekly default status reports and announce completion once the Annual Filings are submitted to SEDAR+.

Positive

• Regular shareholders maintain ability to trade shares
• Company committed to bi-weekly updates through status reports

Negative

• Delay in filing required annual financial documents indicates potential internal control or reporting issues
• Trading restrictions imposed on company executives through MCTO
• Company unable to issue new securities to insiders during MCTO period

News Market Reaction

+1.22%

1 alert

+1.22% News Effect

On the day this news was published, WHTCF gained 1.22%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

VANCOUVER, BC, April 1, 2025 /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL" or the "Company"), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, announces that further to its application to the British Columbia Securities Commission ("BCSC") for a management cease trade order ("MCTO") to be imposed in respect of its delay in filing its annual information form, audited annual financial statements and management's discussion and analysis, all for the year ended December 31, 2024 (collectively, the "Annual Filings"), the BCSC has today granted the MCTO. The MCTO prohibits the chief executive officer and the chief financial officer of the Company from trading in securities of the Company for so long as the Annual Filings are not filed, including the disposition or acquisition of securities of the Company under any automatic plan. During this period, the Company has undertaken not to, directly or indirectly, issue or acquire securities from an insider or employee of the Company.

The MCTO does not affect the ability of any shareholders who are not insiders of the Company to trade their securities of the Company.

The Company will issue a news release announcing completion of filing of the Annual Filings at such time as they are completed and filed. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in under National Policy 12-203 – Management Cease Trade Orders, including issuing bi-weekly default status reports by way of news releases, which will be filed on SEDAR+.

The delay in the Annual Filings arises from the matters previously disclosed in WELL's news release dated March 28, 2025.  WELL continues to work toward completing the filings as soon as practicable.

WELL HEALTH TECHNOLOGIES CORP.

Per: "Hamed Shahbazi"

Hamed Shahbazi

Chief Executive Officer, Chairman and Director 

About WELL Health Technologies Corp.

WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 41,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 200 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and on the OTC Exchange under the symbol "WHTCF". To learn more about the Company, please visit: www.well.company.

View original content to download multimedia:https://www.prnewswire.com/news-releases/well-health-announces-receipt-of-mcto-302417729.html

SOURCE WELL Health Technologies Corp.

FAQ

What does the MCTO mean for WHTCF shareholders?

The MCTO only restricts trading by WELL Health's CEO and CFO. Regular shareholders who are not company insiders can continue trading WHTCF shares normally.

What documents are delayed in WHTCF's Annual Filings for 2024?

The delayed documents include the annual information form, audited annual financial statements, and management's discussion and analysis for the year ended December 31, 2024.

How will WHTCF keep investors updated during the MCTO period?

WELL Health will issue bi-weekly default status reports via news releases on SEDAR+ until the Annual Filings are completed.

What trading restrictions does the MCTO impose on WHTCF?

The MCTO prohibits the company from issuing or acquiring securities from insiders or employees, and prevents the CEO and CFO from trading company securities.